Alyeska Investment Group L.P. Buys New Position in Arbe Robotics Ltd. (NASDAQ:ARBE)

Alyeska Investment Group L.P. acquired a new position in Arbe Robotics Ltd. (NASDAQ:ARBE - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 4,100,419 shares of the company's stock, valued at approximately $7,627,000. Alyeska Investment Group L.P. owned about 4.55% of Arbe Robotics at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Walleye Capital LLC purchased a new position in Arbe Robotics during the 4th quarter valued at $25,000. Two Sigma Securities LLC purchased a new stake in shares of Arbe Robotics during the fourth quarter valued at $37,000. Jane Street Group LLC purchased a new stake in shares of Arbe Robotics during the fourth quarter valued at $48,000. Geode Capital Management LLC grew its holdings in shares of Arbe Robotics by 22.3% in the fourth quarter. Geode Capital Management LLC now owns 53,025 shares of the company's stock worth $99,000 after purchasing an additional 9,658 shares during the last quarter. Finally, DnB Asset Management AS increased its stake in Arbe Robotics by 26.9% in the 4th quarter. DnB Asset Management AS now owns 129,742 shares of the company's stock worth $241,000 after buying an additional 27,531 shares during the period. Hedge funds and other institutional investors own 33.42% of the company's stock.

Analyst Ratings Changes

A number of equities analysts have commented on the stock. Maxim Group downgraded shares of Arbe Robotics from a "buy" rating to a "hold" rating in a research note on Thursday, March 6th. Canaccord Genuity Group assumed coverage on Arbe Robotics in a research note on Tuesday, April 1st. They issued a "buy" rating and a $1.75 price objective on the stock.

Arbe Robotics Price Performance

Shares of NASDAQ:ARBE traded up $0.05 during trading hours on Friday, hitting $1.47. The company's stock had a trading volume of 1,268,737 shares, compared to its average volume of 2,808,954. The firm's fifty day moving average price is $1.20 and its 200 day moving average price is $1.85. Arbe Robotics Ltd. has a 52 week low of $0.85 and a 52 week high of $5.09. The company has a market capitalization of $131.99 million, a price-to-earnings ratio of -1.98 and a beta of 0.30.

Arbe Robotics (NASDAQ:ARBE - Get Free Report) last posted its earnings results on Wednesday, March 5th. The company reported ($0.11) earnings per share for the quarter, missing analysts' consensus estimates of ($0.10) by ($0.01). Arbe Robotics had a negative return on equity of 102.87% and a negative net margin of 4,567.91%. The company had revenue of $0.10 million for the quarter, compared to analysts' expectations of $0.40 million. During the same quarter in the prior year, the company earned ($0.07) EPS. On average, equities research analysts predict that Arbe Robotics Ltd. will post -0.58 earnings per share for the current fiscal year.

Arbe Robotics Company Profile

Arbe Robotics Ltd., a semiconductor company, provides 4D imaging radar solutions for tier 1 automotive suppliers and automotive manufacturers in China, Hong Kong, Sweden, Germany, the United States, Israel, and internationally. It offers 4D imaging radar chipset solutions that address the core issues that have caused autonomous vehicle and autopilot accidents, such as detecting stationary objects, identifying vulnerable road users, operation at poor lighting conditions, and eliminating false alarms without radar ambiguities.